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Poker Provides 80% Of paddyPowers Earnings
9/30/09 - The growing importance of Paddy Power group's online gambling operations was emphasised by CEO Patrick Kennedy in an interview with Bloombergs business news this week.
Kennedy was bullish on the group's prospects for 2010, where he expected faster growth in the Australian operations of the group, and said that earnings from online gambling activities could rise to more than 80 percent of profit “in the not too distant future” from two-thirds at the latest results.
Kennedy revealed that Paddy Power is building up its Internet unit and increasing its overseas presence as the recession in its home market cuts betting shop wagers.
In July, the bookmaker bought a 51 percent stake in Sportsbet Pty Ltd. to expand into Australia. Sales momentum there “remains very strong,” the CEO said, adding the company is now able to secure U.K. stores on better terms as retailers exit the high street.
“I think 2010 will be a good year for Paddy Power,” said Kennedy (40). "When I look at 2010 and beyond I think we will continue to grow our share in all of our markets.”
In the two months since the Sportsbet acquisition, the Australian business increased customer numbers by about 80 percent from a year earlier, Kennedy said. That represented an acceleration from 70 percent growth in the nine months through March.
Paddy Power may move into France once the market opens up, Kennedy said. That could either be done through its own brand or through a joint venture with a French company that would use Paddy Power’s technology.
“Large French companies who would have well-known brands and would know their way round the French market would be the sort of companies we would be looking at,” the CEO said. “We can provide them with the backend and they do the front end.”
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$400k Winner at Bodog Casino -
To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.
NBA : Warriors Win the West; NBA Finals Next -
The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
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